Examlex
Carl was three years old when he acquired TBI. Which of the following was the most likely cause of his brain injury?
Expected Value
The calculated average of all possible values for a random variable, weighted by their respective probabilities.
Risk-loving
A term describing an individual's preference or inclination towards taking risk, often in the pursuit of higher rewards.
Risk-neutral
An attitude towards risk where an individual does not prefer or avoid risk, being indifferent between a certain outcome and a gamble with the same expected value.
Fair Bet
A gamble or bet in which the expected value of the winnings equals the cost of playing, indicating no advantage for the bettor or the house.
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